Media conglomerate Zee Entertainment has acquired 100 per cent stake in two media entities, 9X Media and INX Music, in a Rs 160-crore cash deal.
Besides, the company has also bought remaining 26 per cent stake in Zee Turner Ltd for Rs 2.6 lakh, a 74 per cent subsidiary of the company.
The board of Zee Entertainment Enterprise Ltd, in a meeting held today approved acquisition of 100 per cent stake in 9X Media PVt Ltd and INX Music Pvt Ltd, the company said in a regulatory filing.
9X Media operates five music channels - 9XM (Hindi), 9X Jalwa (Hindi), 9X Jhakkas (Marathi), 9XO (English) and 9X Bajao (Hindi).
INX Music is a 70.85 per cent subsidiary of 9XM and engaged in the business of broadcasting a Punjabi music channel 9X Tashan, under its wholly owned subsidiary Paul Entertainment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
06:59 PM IST